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Federal Register Highlights – 4/8/16

April 8, 2016

Unpublished, time-sensitive and proposed rules for April 8, 2016:

PROPOSED RULE: We are proposing to amend the fruits and vegetables regulations to allow the importation of fresh pitahaya fruit into the continental United States from Ecuador. As a condition of entry, the fruit would have to be produced in accordance with a systems approach that would include requirements for fruit fly trapping, pre-harvest inspections, approved production sites, and packinghouse procedures designed to exclude quarantine pests. The fruit would also be required to be imported in commercial consignments and accompanied by a phytosanitary certificate issued by the national plant protection organization of Ecuador stating that the consignment was produced and prepared for export in accordance with the requirements of the systems approach. This action would allow for the importation of fresh pitahaya from Ecuador while continuing to provide protection against the introduction of plant pests into the United States. We will consider all comments that we receive on or before June 7, 2016. (To submit comments, visit www.regulations.gov, reference Docket No. APHIS–2015–0004.)

TEMPORARY RULE: The Coast Guard has issued a temporary deviation from the operating schedule that governs the Blynman (SR127) Bridge across the Annisquam River and Blynman Canal at mile 0.0 at Gloucester, MA. This deviation is necessary to facilitate public safety during a public event, the annual Saint Peter’s Fiesta 5K Road Race. This deviation allows the bridge to remain closed for thirty minutes to facilitate public safety. This deviation is effective from 6:15 p.m. to 6:45 p.m. on June 23, 2016.

TEMPORARY RULE: The Coast Guard has modified a temporary deviation from the operating schedule that governs the S165 (North Landing Road) Bridge across the North Landing River, mile 20.2, at Chesapeake, VA. This modified deviation is necessary to perform emergency bridge repairs and provide for safe navigation. This modified deviation allows the bridge to remain in the closed-to-navigation position. This modified deviation is effective without actual notice from April 8, 2016 through 6 p.m. on June 30, 2016.

PROPOSED RULE: The Board of Governors of the Federal Reserve System (Board) is inviting public comment on proposed clarifying revisions (proposed rule) to the Board’s rule regarding risk-based capital surcharges for U.S. based global systemically important bank holding companies (GSIB surcharge rule). The proposed rule proposed rule would modify the GSIB surcharge rule to provide that a bank holding company subject to the rule would continue to calculate its method 1 and method 2 GSIB surcharge scores annually using data as of December 31 of the previous calendar year, even though the data will be due quarterly beginning with the June 30, 2016, report. In addition, the proposed rule would clarify that a bank holding company subject to the GSIB surcharge rule is required to calculate its method 2 GSIB surcharge score using systemic indicator amounts expressed in billions of dollars even though the data is reported in millions of dollars. The preamble to the proposed rule also provides clarifying information on how a covered bank holding company should calculate its short-term wholesale funding score for purposes of calculating its method 2 score under the GSIB surcharge rule. Comments must be received May 13, 2016. (To submit comments, visit www.regulations.gov, reference Docket No. R–1535.)

PROPOSED RULE: This document contains proposed regulations under section 385 of the Internal Revenue Code (Code) that would authorize the Commissioner to treat certain related-party interests in a corporation as indebtedness in part and stock in part for federal tax purposes, and establish threshold documentation requirements that must be satisfied in order for certain related-party interests in a corporation to be treated as indebtedness for federal tax purposes. The proposed regulations also would treat as stock certain related-party interests that otherwise would be treated as indebtedness for federal tax purposes. The proposed regulations generally affect corporations that issue purported indebtedness to related corporations or partnerships. Written or electronic comments and requests for a public hearing must be received by July 7, 2016. (To submit comments, visit www.regulations.gov, reference IRS REG–108060–15.)

PROPOSED RULE: This Notice of Proposed Rulemaking (NPRM) proposes to revise the Pipeline Safety Regulations applicable to the safety of onshore gas transmission and gathering pipelines. PHMSA proposes changes to the integrity management (IM) requirements and proposes changes to address issues related to non-IM requirements. This NPRM also proposes modifying the regulation of onshore gas gathering lines. Persons interested in submitting written comments on this NPRM must do so by June 7, 2016. (To submit comments, visit www.regulations.gov, reference Docket No. PHMSA–2011–0023.)

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